Calpine: Court OKs disclosure statement for reorganization

SAN FRANCISCO (MarketWatch) -- Calpine Corp.
cpnlq
said late Tuesday that the U.S. Bankruptcy Court for the Southern District of New York has approved the company's disclosure statement filed in connection with its proposed reorganization plan. A confirmation hearing for the court to consider approval of the plan has been scheduled to start Dec. 18. Calpine said it will soon begin soliciting votes for the plan from eligible claim and interest holders. If the plan is confirmed and other clearances issued, Calpine expects to emerge from Chapter 11 protection before Jan. 31, 2008.

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